Business leaders are navigating a disrupted world and unprecedented levels of uncertainty pushing them to ask difficult questions about their strategy and organization, as well as discover new ways to lead, build resilience, and develop stronger skills. Fluence Capital outlines 5 actions that you as a leader can take to ensure your organisation is in the best shape possible to survive and thrive in a post-pandemic environment. 

1. Have a plan

Planning and preparing is vital. If anything, the pandemic has shown us what the ramifications are when you are caught off guard. And as business leaders have scrambled to pick up the pieces in the wake of the destruction caused by COVID-19, many decisions have been made as a knee-jerk reaction. Now, as we navigate the post pandemic environment, we are realising that some of the worst business decisions were made when emotions dictated the outcome. It therefore pays to be prepared. Brainstorm actionable strategies and plans with your team and walk through a number of “what-if” scenarios that can be rapidly executed at a moment’s notice should they arise. 

2. Ask difficult questions

Ask difficult but critical questions.Spend time reevaluating your goals, budgets, and overall structure to ensure your organisation still meets rapidly changing consumer needs in a new climate. The sooner you understand if your business is still relevant in the post COVID environment, the sooner you’ll be able to implement plans to shift it towards a new direction and get on a road to recovery. 

3. Agility is key

Agility is central to business survival. In fact, McKinsey research has found that agile companies have outperformed others in adapting to COVID-19. Adapting with speed is key and will determine which businesses survive in the longer term and which don’t. Business leaders need to examine systems and technologies that not only help build greater flexibility and resiliency, but encourage a more agile mindset across their organisations. 

4. Turn digitization into an advantage

Digital transformation is no longer a choice, it’s a reality. According to McKinsey, 10 years of digital growth transpired in the first 90 days of the pandemic. The pandemic has therefore been a harsh reality check for businesses that had been reluctant to embrace digital transformation. Now is the time to ensure that the tech capabilities and IT services which power your business, is complete and up to date. Organizations that embrace digital solutions will have greater resiliency in the face of adversity and set themselves apart from the competition.

5. Be prepared to diversify your offerings

Very few businesses have proven immune to the effects of the pandemic. Now is the time for business leaders to take stock and find new ways to diversify their offerings to adapt to major market changes and changing consumer demands and needs. 

Conclusion

These are tough times that are testing the resolve of business leaders and their teams. Leading a business in the post-pandemic world means shifting not only your management methods, but your mindset. While there’s no question the post crisis business landscape will be challenging for many businesses, there are also significant opportunities to emerge stronger than ever. Taking the lessons learnt from the COVID-19 crisis, companies can develop robust plans and strategies that will not only be beneficial in the short term, but instrumental in helping businesses thrive as we enter the post-pandemic normal.